Pakistani PM Sharif in Beijing for talks with President Xi to seek more investments, elevate ties

Beijing, June 6

Visiting Pakistani Prime Minister Shehbaz Sharif has reached Beijing for talks with Chinese President Xi Jinping and other leaders to elevate all-weather bilateral ties and prospects of more aid and investments to bail out his cash-strapped country from the current economic crisis.

Sharif, on a five-day official visit to China since June 4, toured the southern high-tech city of Shenzhen on Wednesday and addressed the investors meeting.

During his stay here, Sharif will meet Xi, Premier Li Qiang and other leaders, Pakistan’s state-run APP news agency reported.

He will also attend a Pakistan-China Friendship and Business event and have meetings with the CEOs of leading Chinese companies working on the China–Pakistan Economic Corridor (CPEC) projects.

Several MoUs between the two countries on cooperation in various fields are likely to be signed, the report said.

Cash-strapped Pakistan’s economy is facing severe headwinds, and it has formally requested the International Monetary Fund (IMF) for the next bailout package between USD 6 billion and USD 8 billion with the possibility of augmentation through climate financing.

In his address to the investors meeting in Shenzhen, Sharif assured full security to the Chinese personnel from the recurring terrorist attacks targeting them.

The 72-year-old leader embarked on his first visit to China after he took over as prime minister for the second term after his Pakistan Muslim League-Nawaz (PML-N) party-led coalition government assumed power in March.

Addressing the Pakistan-China Business Forum, Sharif assured all-out facilitation to Chinese investors and security of Chinese individuals, projects, and investments in Pakistan.

He said his government had taken various measures to ensure fool-proof security to protect the lives of Chinese workers in Pakistan.

“I will spare no effort to protect the lives of Chinese workers and assure and guarantee that we will provide them security more than our children. This will never happen again,” he said.

Referring to the March terrorist attack in Besham in Pakistan, in which five Chinese personnel and their Pakistani driver were killed, he said it was one of the saddest days of his life when the whole nation felt saddened.

The latest was the March suicide attack in Dasu in which five Chinese nationals and a Pakistan driver were killed. Pakistan paid USD 2.58 million as compensation to the families of those killed in the attack.

The CPEC, which connects Gwadar Port in Pakistan’s Balochistan with China’s Xinjiang province, is the flagship project of China’s ambitious Belt and Road Initiative (BRI). The BRI is seen as an attempt by China to further its influence abroad with infrastructure projects funded by Chinese investments across the world.